The European Bank for Reconstruction and Development (EBRD) today received an official visit from the Deputy Prime Minister and Minister of International Cooperation of the Arab Republic of Egypt, Dr Ziad Bahaa el-Din who also represents Egypt on the Board of the EBRD.
Dr Bahaa el-Din addressed the Board of Directors, which represents the EBRD’s 66 shareholders, in a speech stressing the importance of the Bank’s investments in support of Egypt’s transition as well as the EBRD’s 20 years of experience in transition countries. Dr Bahaa el-Din also highlighted the important role of the private sector as a driving force to support recovery of the economy and to create job opportunities.
EBRD President Sir Suma Chakrabarti discussed with Dr Bahaa el-Din the Bank’s priorities for Egypt, saying: “We are committed to supporting Egypt’s citizens and its entrepreneurs through continued engagement with the private sector and by making targeted investments enhanced by technical assistance that benefit the Egyptian people.”
The Governor also met with senior management from various sectors across the Bank to discuss potential opportunities for investments in Egypt.
The EBRD has been investing in Egypt since September 2012 and to date it has signed six projects for an aggregate amount of €75 million. The Bank has further facilitated direct technical assistance projects to Egyptian SMEs through 106 transactions within the framework of the Small Business Support programme.